UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
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ITT Educational Services, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
45068B109
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(CUSIP Number)
December 31, 2001
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 9 pages
SEC 1745 (2/92)
13G
Page 2 of 9 pages
CUSIP No. 45068B109
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Liberty Wanger Asset Management, L.P. 36-3820584
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
None
NUMBER OF
-----------------------------------------------------------
SHARES
6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,546,000
EACH -----------------------------------------------------------
REPORTING
7 SOLE DISPOSITIVE POWER
PERSON
None
WITH
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,546,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,546,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not Applicable
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.8%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTION BEFORE FILLING OUT!
13G
Page 3 of 9 pages
CUSIP No. 45068B109
------------------------
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WAM Acquisition GP, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable (a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
None
NUMBER OF
-----------------------------------------------------------
SHARES
6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,546,000
EACH -----------------------------------------------------------
REPORTING
7 SOLE DISPOSITIVE POWER
PERSON
None
WITH
-----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,546,000
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,546,000
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not Applicable
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.8%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
Item 1(a) Name of Issuer:
ITT Educational Services, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
5975 Castle Creek Parkway N. Drive
P.O. Box 50466
Indianapolis, Indiana 46250-0466
Item 2(a) Name of Person Filing:
Liberty Wanger Asset Management, L.P. ("WAM")
WAM Acquisition GP, Inc., the general partner
of WAM ("WAM GP")
Item 2(b) Address of Principal Business Office:
WAM and WAM GP are both located at:
227 West Monroe Street, Suite 3000
Chicago, Illinois 60606
Item 2(c) Citizenship:
WAM is a Delaware limited partnership; WAM GP
is a Delaware corporation.
Item 2(d) Title of Class of Securities:
Common Stock
Item 2(e) CUSIP Number:
45068B109
Item 3 Type of Person:
(e) WAM is an Investment Adviser registered
under section 203 of the Investment
Advisers Act of 1940; WAM GP is the
General Partner of the Investment Adviser.
Page 4 of 9 pages
Item 4 Ownership (at December 31, 2001):
(a) Amount owned "beneficially" within the
meaning of rule 13d-3:
2,546,000
(b) Percent of class:
10.8% (based on 23,655,613 shares
outstanding as of October 26, 2001)
(c) Number of shares as to which such person
has:
(i) sole power to vote or to direct
the vote: none
(ii) shared power to vote or to direct
the vote: 2,546,000
(iii) sole power to dispose or to
direct the disposition of: none
(iv) shared power to dispose or to
direct disposition of: 2,546,000
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
The shares reported herein have been acquired
on behalf of discretionary clients of WAM.
Persons other than WAM and WAM GP are entitled
to receive all dividends from, and proceeds
from the sale of, those shares.
Item 7 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by the
Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the
Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Page 5 of 9 pages
Item 10 Certification:
By signing below I certify that, to the best
of my knowledge and belief, the securities referred
to above were acquired and are held in the ordinary
course of business and were not acquired and are not
held for the purpose of or with the effect of
changing or influencing the control of the issuer of
the securities and were not acquired and are not held
in connection with or as a participant in any
transaction having that purpose or effect.
Page 6 of 9 pages
Signature
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 14, 2002
The undersigned corporation, on the date above
written, agrees and consents to the joint filing on
its behalf of this Schedule 13G in connection with
its beneficial ownership of the security reported
herein.
WAM Acquisition GP, Inc.
for itself and as general partner of
LIBERTY WANGER ASSET MANAGEMENT, L.P.
By: /s/ Bruce H. Lauer
---------------------------------------
Bruce H. Lauer
Senior Vice President and Secretary
Page 7 of 9 pages
Exhibit Index
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Exhibit 1 Joint Filing Agreement dated as of February 14, 2002 by
and between Liberty Wanger Asset Management, L.P. and WAM
Acquisition GP, Inc.
Page 8 of 9 pages
EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree to the joint filing of the Schedule 13G to
which this Agreement is attached.
Dated: February 14, 2002
WAM Acquisition GP, Inc.
for itself and as general partner of
LIBERTY WANGER ASSET MANAGEMENT, L.P.
By: /s/ Bruce H. Lauer
---------------------------------------
Bruce H. Lauer
Senior Vice President and Secretary
Page 9 of 9 pages